IFCI, which provides medium and long-term credit to industries in India, spurted 6.80% to Rs 23.55. The stock topped the gainers in the BSE's 'A' group.
Hospital chain Apollo Hospitals Enterprise jumped 5.24% to Rs 593.75. The stock was second biggest gainer in 'A' group. Earlier this month, Apollo Hospitals had clarified on the shares it allotted to its promoter on conversion of warrants. The company had said in a statement on 15 December 2011, that it had allotted 30.89 lakh shares of Rs 5 each, at Rs 385.88 a share to Prathap C. Reddy, one of its founders, as per prevalent regulations and guidelines, upon conversion of share warrants allotted to him on 12 June 2010.
India's largest motorcycle maker by sales Hero MotoCorp climbed 4.75% to Rs 1938.60 on bargain hunting. The stock was third biggest gainer in 'A' group.
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Shares of Hero MotoCorp had underperformed the market over the past one month until 23 December 2011, sliding 12.96% compared with the Sensex's 0.25% rise. The scrip had also underperformed the market in past one quarter, falling 9.18% as against 2.62% fall in the Sensex.
India's third largest listed telecom operator by sales Idea Cellular galloped 4.44% to Rs 82.30. The stock was fourth biggest gainer in 'A' group.
India's largest listed telecom operator by sales Bharti Airtel rose 4.31% to Rs 344.70. The stock was fifth biggest gainer in 'A' group.
Telecom stocks rose after Telecom Disputes Settlement and Appellate Tribunal (TDSAT) on Saturday, 24 December 2011, asked the government not to take any "coercive" action over an order to ban 3G roaming pacts among firms until the next hearing of the case following an appeal filed by telecom firm with the telecom tribunal.
TDSAT has set 3 January 2012 as the next date for hearing the case. The telecom ministry had told telecom carriers on Friday, 23 December 2011, that they are not allowed to offer 3G services beyond the zones where they have their own radio airwaves, such as via roaming pacts with one another, asking them to comply with the order within 24 hours. The ministry's decision came as a blow to Bharti Airtel, Vodafone's India unit and Idea Cellular -- three of the country's top four carriers -- which currently provide 3G services beyond their licensed zones through roaming pacts. The three firms along with Tata Teleservices and Aircel challenged the order, saying the 3G roaming agreements were compliant with telecom licensing rules and the telecoms ministry's clarifications to firms before the 3G airwaves auction last year.
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